Electric vehicle maker Lucid Group Inc. (NASDAQ:LCID) cut its production output in a bid to offload inventory amid a third-quarter 2026 delivery miss.
Lucid Misses Delivery and Production Estimates
According to a report by Reuters on Monday, Lucid produced 2,954 vehicles and delivered 3,806 vehicles during the third quarter of 2026, missing analyst estimates of 4,687 units delivered and 3,709 vehicles produced. The automaker’s production output fell 38% compared to 4,774 vehicles it produced in the preceding quarter.
Lucid’s deliveries exceeded production by 852 units as the company turned unsold inventory into sales, part of a cost-saving initiative to achieve cash flow improvements. The automaker’s YTD deliveries stand at 10,852 units, the report added.
Tesla, Rivian Beat Delivery Expectations
Lucid’s delivery miss comes as Elon Musk-led Tesla Inc. (NASDAQ:TSLA) beat analyst expectations, delivering 486,532 vehicles for the quarter and surpassing analyst estimates of 456,896 units for the quarter.
Tesla’s high sales figures, according to investor Gary Black, came from higher fuel costs as Iran-war-induced energy shocks continue to drive gas prices higher. Rivian Automotive Inc. (NASDAQ: RIVN), on the other hand, also reported increased sales figures during the same period, still targeting 65,000-70,000 deliveries for the year.
On the other hand, investor Gene Munster of Deepwater Asset Management also weighed in on Tesla’s delivery beat, saying that the company will “crush” traditional automakers.
Notably, the Trump administration announced a series of anti-EV decisions, including the end of the $7,500 Federal EV Credit last year, as well as announcing relaxed fuel economy norms.
Shares of Lucid rose about 0.48% to $4.19 premarket on Tuesday.
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